We use a simple framework where firms in two countries serve their respective domestic markets and a world market to … analyze under which conditions cost-reducing mergers will be beneficial for the merging firms, the home country, and the world … as a whole. For a national merger, the policies enacted by a national merger authority tend to be overly restrictive from …

We construct the World Uncertainty Index (WUI) for an unbalanced panel of 143 individual countries on a quarterly basis …. Globally, the Index spikes around major events like the Gulf War, the Euro debt crisis, the Brexit vote and the COVID pandemic …